Key benchmark indices logged strong gains on last trading day of the week on steady buying demand in index pivotals. Sentiment was boosted by an overnight slide in crude oil prices. Narendra Modi-led NDA's thumping victory in Lok Sabha polls also supported buying. A strong mandate for the NDA could mean that economic reforms would be decisively implemented. The Sensex settled above the psychological 39,000 mark after moving above and below that level in intraday trade. The Sensex and the Nifty, both, settled at record high.

Intraday volatility was high. Local stocks drifted higher in early trade on buying demand in index pivotals. A steep slide in crude oil prices also boosted investors sentiment in early trade. Key indices trimmed gains in morning trade. The indices once again regained strength in mid-morning trade. Stocks extended gains thereafter and hit fresh intraday high in late trade.

The barometer index, the S&P BSE Sensex, gained 623.33 points or 1.61% at 39,434.72, a record closing high. The index hit high of 39,476.97 and low of 38,824.26 in intraday trade.

The Nifty 50 index gained 187.05 points or 1.6% at 11,844.10, a record closing high. The index hit high of 11,859 and low of 11,658.10 in intraday trade.

Infosys rose 1.17%. Infosys during market hours today, 24 May 2019 announced that it has completed the formation of a strategic partnership with ABN AMRO in the Netherlands by acquiring 75% of the shareholding in their wholly owned end-to-end mortgage administration service provider Stater N.V. This partnership strengthens Infosys' position as a leading technology and business process management provider across the mortgage services value chain, improving experience and operational efficiencies, and further enhances the company's strategy to help clients navigate their next digital transformation journeys.

Cipla rose 1.22% after the company signed an agreement on Thursday to acquire 26% stake on a fully diluted basis in AMPSolar Power Systems, which is formed for the purpose of setting up a captive solar power project in Maharashtra. The company will invest Rs 12.90 crore for the acquisition, which will be through share purchase, subscription of equity shares and compulsorily convertible debentures. The announcement was made after market hours yesterday, 23 May 2019.

Sun TV Network fell 3.25% after the company's net profit fell 2.3% to Rs 283.07 crore on 24% increase in net sales to Rs 888.88 crore in Q4 March 2019 over Q4 March 2018. The subscription revenues for the quarter rose by about 4% at Rs 319.77 crore, as against Rs 308.84 crore for the corresponding quarter ended 31 March 2018. EBITDA for the quarter ended 31 March 2019 rose about 16% at Rs 608.40 crore as against Rs 522.40 crore for the previous quarter ended 31 March 2018. The result was announced after market hours yesterday, 23 May 2019.

Eros International Media rose 7.6% after consolidated net profit rose 14.72% to Rs 69.74 crore on 5.95% decrease in net sales to Rs 224.56 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 23 May 2019.

The Indian electorate gave a decisive verdict in favour of the BJP and its allies yesterday, 23 May 2019. Latest trends showed that the Prime Minister Narendra Modi-led NDA is leading in 353 seats, while UPA is leading in 92 and others leading in 97 seats. The 2019 Lok Sabha polls for 542 seats were held from April 11 to May 19. A party or coalition needs 272 seats in parliament to form a government.

In commodity markets, crude oil prices plunged on Thursday, as trade tensions dampened the demand outlook. Brent for July 2019 settlement tumbled $3.23 a barrel or 4.55% to settle at $67.76 a barrel. The slide in global crude oil prices will help India in containing inflation, current account and fiscal deficits. India imports about 80% of its crude oil requirement.

Overseas, European shares advanced on Friday. Brexit developments will be closely monitored by investors, with British Prime Minister reportedly expected to announce a departure date on Friday. Asian shares were mixed as investors remained worried over trade tensions between the United States and China.

US stocks finished lower Thursday as big losses for the technology and energy sectors dragged on the broader market amid signs that trade tensions between the U.S. and China are escalating.

US President Donald Trump said on Thursday that Washington's complaints against Huawei Technologies might be resolved within the framework of a U.S.-China trade deal. The U.S. Commerce Department said on Thursday it was proposing a new rule to impose anti-subsidy duties on products from countries that undervalue their currencies, in another move that could penalise Chinese products.

In economic data, IHS Markit said its “flash” index of U.S. manufacturers fell to a 9 1/2-year low of 50.6 in May from 52.6 in April, while the firm's services index dropped to a 39-month low of 50.8 from 52.7.

Nifty PSU Bank index closed up 5.59% at 3326.9 today. The index is up 5.00% over last one month. Among the constituents, Bank of India added 8.41%, Bank of Baroda rose 7.68% and Union Bank of India jumped 7.53%. The Nifty PSU Bank index is up 13.00% over last one year compared to the 12.65% surge in benchmark Nifty 50 index. In other indices, Nifty Realty index added 4.44% and Nifty Auto index increased 2.96% on the day. In broad markets, the Nifty 50 increased 1.60% to close at 11844.1 while the SENSEX recorded a gain of 1.61% to close at 39434.72 today.

Sensex, Nifty end lower after touching record high levels23-May-2019 (16:52)

Domestic shares ended lower on Thursday as weak global cues triggered profit booking after a blockbuster rally in mid-morning trade. Prime Minister Narendra Modi-led NDA's thumping lead in the general elections propelled the Sensex above the psychological 40,000 mark and the Nifty above the psychological 12,000 mark in intraday trade. Modi's landslide victory boosted shares as investors expect his government will continue to pursue economic reforms.

The Sensex fell 298.82 points or 0.76% to settle at 38,811.39. The index surged 1014.75 points, or 2.59% at the day's high of 40,124.96. The index fell 458.60 points, or 1.17% at the day's low of 38,651.61.

The Nifty 50 index fell 80.85 points or 0.69% to settle at 11,657.05. The index soared 303.25 points, or 2.58% at the day's high of 12,041.15. The index fell 123.40 points, or 1.05% at the day's low of 11,614.50.

Trading for the day began on a strong note as election results showed the Narendra Modi-led NDA leading in early trends. Stocks extended gains in morning trade after election trends showed that Narendra Modi-led NDA is leading in over 300 seats. Key indices pared gains in volatile trade soon after scaling fresh record high in mid-morning trade.

Counting of votes is underway today, 23 May 2019. Latest trends showed that NDA is leading in 342 seats, while UPA is leading in 82 and others leading in 98 seats. The 2019 Lok Sabha polls for 542 seats were held from April 11 to May 19. A party or coalition needs 272 seats in parliament to form a government.

HDFC Bank reversed early gains and fell 2.94%. HDFC Bank said that its board pproved sub-division of one equity share of face value of Rs 2 each to two equity shares of face value of Re 1 each. The announcement was made after market hours yesterday, 22 May 2019.

Bank of Baroda rose 1.03%. Bank of Baroda reported net loss of Rs 991.37 crore in Q4 March 2019 compared with net loss of Rs 3102.34 crore in Q4 March 2018. Total income rose 20.02% to Rs 15284.59 crore in Q4 March 2019 over in Q4 March 2018. The result was announced after market hours yesterday, 22 May 2019.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 69.935, compared with its close of 69.6625 during the previous trading session.

In the global commodities markets, Brent for July 2019 settlement was down 98 cents at $70.01 a barrel. The contract fell $1.19 a barrel or 1.65% to settle at $70.99 a barrel during the previous trading session.

Overseas, European shares were trading lower amid ongoing US-China trade concerns and political uncertainty across the EU. Politics are a central focus as voting in the EU elections begins in the UK and the Netherlands. Brexit uncertainty also continues to weigh.

Asian stocks fell on Thursday as worries over US-China tensions grew. The US said it will impose trading restrictions on Chinese telecoms giant Huawei from August 19. A private survey suggested that Japan's manufacturing contracted in May. The Markit/JMMA flash purchasing managers' index fell to 49.6 in May from 50.2 in the previous month.

US stocks finished lower Wednesday as lingering trade woes overshadowed the release of the minutes from the Federal Reserve's policy meeting that was largely interpreted as accommodative.

Minutes for the rate-setting Federal Open Market Committee's April 30-May 1 meeting indicated that the voting members agreed the current accommodative policy can remain for now and that they were comfortable with the wait-and-see approach. They were, however, split on whether higher rates were necessary if the economy continued to evolved along the predicted path while others argued that higher productivity could indicate more economic softness than the low unemployment rate suggests.

Quick Wrap: Nifty FMCG Index falls 1.73%23-May-2019 (16:00)

Nifty FMCG index ended down 1.73% at 29723.8 today. The index has slipped 3.00% over last one month. Among the constituents, ITC Ltd shed 3.85%, United Breweries Ltd fell 2.68% and Tata Global Beverages Ltd dropped 1.60%. The Nifty FMCG index has soared 5.00% over last one year compared to the 11.76% increase in benchmark Nifty 50 index. In other indices, Nifty Metal index has dropped 1.48% and Nifty Infrastructure index added 1.32% on the day. In broad markets, the Nifty 50 has dropped 0.69% to close at 11657.05 while the SENSEX has dropped 0.76% to close at 38811.39 today.

Key indices settled with modest gains after a volatile session of trade. The Sensex settled above the psychological 39,000 mark after falling below that level in intraday trade. Investors are awaiting results of Lok Sabha polls scheduled to be announced tomorrow, 23 May 2019.

Most exit polls forecast a majority for the ruling BJP-led NDA in Lok Sabha polls. The 2019 polls, held from April 11 to May 19, will decide which party presides over the 17th Lok Sabha. Elections were held for 542 seats. A party or coalition needs 272 seats in parliament to form a government.

Local stocks drifted higher in early trade on buying demand in index pivotals. Stocks hovered in positive zone in morning trade. A bout of volatility was seen in mid-morning trade after the key indices trimmed gains soon after hitting intraday high.

Key indices hovered in a small range in early afternoon trade. Volatility continued in afternoon trade as the key indices regained positive zone soon after sinking in negative zone. Key indices extended gains in mid-afternoon trade. Stocks pared gains in late trade.

The barometer index, the S&P BSE Sensex, rose 140.41 points or 0.36% at 39,110.21. The index hit high of 39,249.08 and low of 38,903.87 in intraday trade.

The Nifty 50 index rose 28.80 points or 0.25% at 11,737.90. The index hit high of 11,784.80 and low of 11,682.40 in intraday trade.

IndusInd Bank rose 4.84% after the bank announced its Q4 result during trading hours today, 22 May 2019. IndusInd Bank's net profit dropped 62.21% to Rs 360.10 crore on 28.87% rise in total income to Rs 7550.43 crore in Q4 March 2019 over Q4 March 2018. Adjusted for one-off provisions, net profit works out to Rs 1189 crore showing growth of 25% Y-o-Y.

Commenting on the performance, Romesh Sobti, MD & CEO, IndusInd Bank said in FY 19, as well as Q4 March 2019, while the bank has witnessed robust growth in its topline as well as in operating profits, aggressive one time provisioning for a group exposure in the infrastructure sector depressed the bottom line.

Tech Mahindra lost 3.03% after consolidated net profit fell 6.64% to Rs 1126.60 crore on 0.38% rise in total income to Rs 9059.40 crore in Q4 March 2019 over Q3 December 2018. The result was announced after market hours yesterday, 21 May 2019.

Maruti Suzuki India rose 0.68%. Maruti Suzuki India has added over 200 new workshops in 2018-19 to its nationwide network. This is the largest addition to service network by any automobile company in the country in a year. With this Maruti Suzuki's service network now is 3,634 workshops strong across 1,789 towns and cities. The announcement was made during market hours today, 22 May 2019.

DLF jumped 1.55% after consolidated net profit rose 76.22% to Rs 436.56 crore on 36.55% rise in total income to Rs 2788.27 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 21 May 2019.

J B Chemicals & Pharmaceuticals surged 5.13% after net profit rose 91.21% to Rs 42.18 crore on 19.55% rise in total income to Rs 394.44 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 21 May 2019.

ERIS Lifesciences fell 5.81% after consolidated net profit fell 3.92% to Rs 53.88 crore on 3.21% rise in total income to Rs 226.55 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 21 May 2019.

Overseas, European stocks were trading lower while Asian stocks were trading mixed Wednesday on relief over Washington's temporary relaxation of curbs against China's Huawei Technologies.

In US, shares of technology companies helped lift Wall Street on Tuesday after the United States temporarily eased curbs on China's Huawei Technologies Co, alleviating investor concerns about pressure on future corporate results in the sector.

The Commerce Department said late Monday it would allow Huawei to purchase American-made goods in order to maintain existing networks and provide software updates to existing Huawei handsets until 19 August 2019.

Quick Wrap: Nifty PSE Index gains 1.00%22-May-2019 (16:00)

Nifty PSE index ended up 1.00% at 3497.5 today. The index has gained 0.00% over last one month. Among the constituents, Bharat Electronics Ltd rose 4.28%, Bharat Heavy Electricals Ltd jumped 3.16% and Bharat Petroleum Corporation Ltd gained 2.62%. The Nifty PSE index has fallen 7.00% over last one year compared to the 11.40% increase in benchmark Nifty 50 index. In other indices, Nifty FMCG index has dropped 0.95% and Nifty Private Bank index increased 0.80% on the day. In broad markets, the Nifty 50 witnessed a rise of 0.25% to close at 11737.9 while the SENSEX increased 0.36% to close at 39110.21 today.

Sensex, Nifty retreat after scaling record high21-May-2019 (16:53)

Domestic stocks dropped in volatile session of trade led by slide in HDFC Bank, Infosys and ICICI Bank. However, gains in index heavyweight Reliance Industries cushioned losses. The Sensex and the Nifty reversed direction after scaling record high in intraday trade.

Local stocks nudged higher in early trade on buying demand in index pivotals with the Sensex and the Nifty, both, scaling record high. A bout of volatility was seen in morning trade as stocks regained strength soon after trimming gains. Stocks hovered in positive zone in mid-morning trade.

The barometer index, the S&P BSE Sensex, lost 382.87 points or 0.97% at 38,969.80. The index hit record high of 39,571.73 in intraday trade. The index hit low of 38,884.85 intraday trade.

The Nifty 50 index lost 119.15 points or 1.01% at 11,709.10. The index hit record high of 11,883.55 in intraday trade. The index hit low of 11,682.80 intraday trade.

Profit booking emerged after domestic stocks logged strong gains yesterday, 20 May 2019 to settle at record high after most exit polls forecast a majority for the ruling BJP-led NDA in Lok Sabha polls. The barometer index, the S&P BSE Sensex, surged 1,421.90 points or 3.75% at 39,352.67 and the Nifty 50 index surged 421.10 points or 3.69% at 11,828.25.

The 2019 polls, held from April 11 to May 19, will decide which party presides over the 17th Lok Sabha. Elections were held for 542 seats. A party or coalition needs 272 seats in parliament to form a government. The counting of votes is slated for May 23.

Tata Motors lost 7.05% after consolidated net profit dropped 47.42% to Rs 1117.48 crore on 4.28% fall in total income to Rs 87718.69 crore in Q4 March 2019 over Q4 March 2018. The announcement was made after market hours yesterday, 20 May 2019.

N Chandrasekaran, Chairman, Tata Motors said the company's domestic business delivered a resilient performance in the face of challenging market conditions. The company has continued to step up pace of innovation, improved market shares as well as profitability. In JLR, the company is continuing to face challenges in China which are addressing on priority.

ICICI Bank shed 1.83%. ICICI Bank has entered into an agreement with BSE and India International Exchange (IFSC) (INX) for investment in INX. INX is an exchange located in GIFT City, IFSC, Gandhinagar, Gujarat. The announcement was made after market hours yesterday, 20 May 2019.

GAIL (India) fell 1.61%. GAIL (India) said the board of directors will consider the proposal for issuance of bonus shares at its meeting on 27 May 2019. The announcement was made after market hours yesterday, 20 May 2019.

Bharat Petroleum Corporation (BPCL) lost 4.55%. BPCL's net profit rose 16.21% to Rs 3124.91 crore on 13.56% rise in total income to Rs 75048.03 crore in Q4 March 2019 over Q4 March 2018. The announcement was made after market hours yesterday, 20 May 2019.

Hindustan Petroleum Corporation (HPCL) fell 2.9%. HPCL's net profit rose 69.91% to Rs 2969.92 crore on 11.95% rise in total income to Rs 68460.64 crore in Q4 March 2019 over Q4 March 2018. The announcement was made after market hours yesterday, 20 May 2019.

Panacea Biotec rose 0.6%. Panacea Biotec's Oncology Parenteral Formulation Facility at Baddi, Himachal Pradesh, received United States Food & Drug Administration (USFDA) approval for manufacture and supply of Azacitidine Injection, 100 mg/vial, for the US market. Azacitidine is a chemotherapy drug used to treat myelodysplastic syndromes (MDS) with annual sales of about $110 million in US markets as per IQVIA data as of December, 2018. The announcement was made after market hours yesterday, 20 May 2019.

Overseas, European shares were trading higher while most Asian shares ended higher after the United States temporarily eased restrictions on China's Huawei, easing trade tensions. The U.S. Commerce Department said it would allow Huawei Technologies to purchase American-made goods.

US stocks fell on Monday as the White House's restrictions on Chinese telecoms equipment maker Huawei Technologies Co weighed on the technology sector and raised concerns that the move would further inflame trade tensions between the United States and China.

Nifty Auto index closed down 2.52% at 8209.45 today. The index has slipped 9.00% over last one month. Among the constituents, Tata Motors Ltd dropped 7.02%, Motherson Sumi Systems Ltd slipped 5.16% and Bharat Forge Ltd fell 3.46%. The Nifty Auto index has fallen 24.00% over last one year compared to the 11.34% increase in benchmark Nifty 50 index. In other indices, Nifty Media index has dropped 2.32% and Nifty PSE index has dropped 1.98% on the day. In broad markets, the Nifty 50 has slid 1.01% to close at 11709.1 while the SENSEX has slid 0.97% to close at 38969.8 today.

Sensex, Nifty settle at record high as exit polls predict NDA win20-May-2019 (16:39)

Domestic stocks logged strong gains on first trading day of the week led by index heavyweights HDFC, Reliance Industries and HDFC Bank. The Sensex and the Nifty, both, settled at record high. Sentiment was boosted after most exit polls forecast a majority for the ruling BJP-led NDA in Lok Sabha polls.

After seeing a strong gap-up opening, stocks extended gains as the day's trading session progressed. The Sensex moved above the psychological 39,000 level after regaining the psychological 38,000 mark in opening trade.

The barometer index, the S&P BSE Sensex, surged 1,421.90 points or 3.75% at 39,352.67, a record closing high. The index hit high of 39,412.56 and low of 38,570.04 in intraday trade.

The Nifty 50 index surged 421.10 points or 3.69% at 11,828.25, a record closing high. The index hit high of 11,845.20 and low of 11,591.70 in intraday trade.

Bharti Airtel rose 3.76%. Bharti Airtel said that the company's rights issue closed for subscription on 17 May 2019. Based on preliminary information received, the rights issue has been over-subscribed, the company said. The applications received in the rights issue are subject to verification and clearing of payments, as applicable, and finalization of the basis of allotment, it added. The announcement was made after market hours on Friday, 17 May 2019.

Cipla rose 3.98%. Cipla informed that the United States Food and Drug Administration (USFDA) conducted a post-approval inspection at our Indore facility from 13 May to 17 May 2019. The inspection ended with zero observations. The announcement was made after market hours on Friday, 17 May 2019.

Shree Cement rose 5.02%. Shree Cement's net profit fell 19.61% to Rs 320.95 crore on 14.2% rise in total income to Rs 3329.96 crore in Q4 March 2019 over Q4 March 2018. The result was announced on Saturday, 18 May 2019.

Engineers India gained 6.65%. Engineers India's net profit rose 37.7% to Rs 94.90 crore on 20.55% rise in total income to Rs 672.21 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours on Friday, 17 May 2019.

Most exit polls forecast a majority for the ruling BJP-led NDA in Lok Sabha polls with varying numbers. The poll of polls puts NDA safely above the majority mark at 312, while UPA is likely to score 110 seats and others will have to do with 98. The poll of polls is an average of various exit polls. An election exit poll is a poll among voters conducted immediately after they leave their polling stations. It is conducted by a number of organisations and is considered an indicator to which party might form the next government.

The 2019 polls, held from April 11 to May 19, will decide which party presides over the 17th Lok Sabha. Elections were held for 542 seats. A party or coalition needs 272 seats in parliament to form a government. The counting of votes is slated for May 23.

Overseas, European stocks were trading lower in the face of a U.S. crackdown on China's Huawei Technologies on Monday after a report that German-based chipmaker Infineon had halted shipments to Huawei.

Asian stocks were mixed on Monday as investors awaited the next chapter in the Sino-American trade dispute. Japan's economy grew at an annualized 2.1% in the first quarter, gross domestic product (GDP) data showed on Monday.

U.S. stocks bounced back from deep losses Friday but still closed lower as trade-related jitters overshadowed strong economic data. Meanwhile, the U.S. and Canada on Friday said they reached a deal to end tariffs imposed by Washington on aluminum and steel products from Canada, while Canada will remove all retaliatory tariffs.

In US economic data, consumer sentiment rose to a 15-year high of 102.4 in May, above April's reading of 97.2, according to the University of Michigan's consumer sentiment index. The Conference Board's estimate of leading economic indicators rose for the third straight month in April to 112.1, up 0.2% from March, the group said Friday. The survey of economic conditions is a collection of forward-looking data that attempts to predict future economic growth.

Nifty PSU Bank index ended up 7.88% at 3181.45 today. The index has lost 1.00% over last one month. Among the constituents, Bank of India jumped 10.04%, Bank of Baroda gained 9.49% and Syndicate Bank added 8.86%. The Nifty PSU Bank index has increased 20.00% over last one year compared to the 11.63% spike in benchmark Nifty 50 index. In other indices, Nifty Realty index increased 5.72% and Nifty Infrastructure index added 5.14% on the day. In broad markets, the Nifty 50 added 3.69% to close at 11828.25 while the SENSEX witnessed a rise of 3.75% to close at 39352.67 today.

The market ended with sharp gains on Friday, supported by strength in private banks and auto shares. Domestic stocks shrugged weakness in the global stock markets and firmness crude oil prices. Investors lapped up shares ahead of key exit poll for the current Lok Sabha elections due on 19 May and results on 23 May. Exit polls will offer early clues to the final poll results.

The Sensex rose 537.29 points or 1.44% to settle at 37,930.77, its highest closing level since 7 May 2019. The index rose 607.65 points, or 1.63% at the day's high of 38,001.13. The index rose 21.88 points, or 0.06% at the day's low of 37,415.36.

The Nifty 50 index rose 150.05 points or 1.33% to settle at 11,407.15, its highest closing level since 7 May 2019. The index rose 169.05 points, or 1.50% at the day's high of 11,426.15. The index rose 2.75 points, or 0.02% at the day's low of 11,259.85.

The market opened higher and held firm at higher levels in morning trade. Shares hovered in a range in mid-morning trade. Indices marched ahead in afternoon trade and hit fresh intraday high in late trade.

Financial services company Bajaj Finserv rose 4.80% after consolidated net profit rose 31.66% to Rs 838.74 crore on 43.5% rise in total income to Rs 12995.47 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 16 May 2019.

During the year, the three key companies - Bajaj Finance (BFL), Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC) have operated well. As before, BFL performed brilliantly. Though BAGIC's profit was adversely affected due to floods in Kerala, it recorded industry beating growth. BALIC recorded all round improvement with industry beating growth in individual premiums supported by improvements in persistency and new business value.

Dr. Reddy's Laboratories fell 2.01%. The company's consolidated net profit rose 67.36% to Rs 455.40 crore on 14.29% increase in total income to Rs 4,112.90 crore in Q4 March 2019 over Q4 March 2018. The result was announced during trading hours today, 17 May 2019.

Aurobindo Pharma tumbled 7.53%. The company said it has received letters from the US Food and Drug Administration (USFDA) classifying the inspections concluded at the company's API facilities of Unit I and XI and intermediates facility of unit IX in February 2019 as Official Action Indicated (OAI). The company has already submitted its initial response to USFDA. The company is sending further updates on the committed corrective actions. The company is confident that these OAI classifications will not have an impact on disruption of supplies or the revenue from operations of these facilities. The announcement was made before trading hours today, 17 May 2019.

Bajaj Auto rose 3.30%. The company's profit after tax rose 21% to Rs 1306 crore on 10% increase in turnover (net) to Rs 7828 crore in Q4 March 2019 over Q4 March 2018. The result was announced during trading hours today, 17 May 219.

IT major Infosys fell 1.42%. The company announced yesterday, 16 May 2019, that its board of directors has approved the Infosys Expanded Stock Ownership Program 2019 that links long term employee incentives with shareholder value creation. Subject to shareholder approval, this unique plan proposes to allocate 50 million shares (or 5 crore shares) equating 1.15% of the company's equity shares to a broad base of employees, which will vest on challenging performance criteria.

This program builds on the strong legacy of meritocracy that was established by the founders, and strengthens the company's efforts towards wealth creation for employees, enhanced shareholder returns and delight for customers. The company has been a pioneer in India, rewarding its employees through stock ownership programs starting in 1994, including the 2015 Incentive Compensation Plan. The Infosys Expanded Stock Ownership Program 2019, under which grants will vest based on performance, aims to align employee interest with shareholder value creation, incentivize, attract and retain key talent, and reward employee performance with ownership.

The grants allocated to employees over a period of seven years will vest based on challenging performance criteria of a) relative Total Shareholder Return (TSR) against an industry peer group, b) relative TSR against domestic and global indices and c) operating lead performance metrics such as total revenue and digital revenue growth, and operating margins.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 70.15, compared with closing of 70.035 during the previous trading session.

In global commodities markets, Brent crude oil futures edged higher. Brent for July 2019 settlement was up 60 cents at $73.22 a barrel.

Overseas, shares in Europe traded lower while Asian shares reversed early gains and ended lower on Friday amid signs of an escalation in Sino-US trade tensions. Market sentiment has been hurt by US government's move to block China's Huawei Technologies from buying vital American technology, drawing a sharp rebuke from Beijing.

US stocks rose on Thursday after strong earnings from Walmart and Cisco Systems and positive economic data helped quell some of the fears surrounding the ongoing US-China trade war.

On the data front, the Commerce Department said housing starts rose by 5.7% in April to a seasonally adjusted annual rate of 1.235 million. Weekly jobless claims, meanwhile, fell to 212,000 last week. Further, the Philadelphia Fed manufacturing index in May rose to a four-month high of 16.6 after registering 8.5 in April. Any reading above zero indicates improving conditions.

Nifty Media index closed up 3.53% at 2190.25 today. The index is down 10.00% over last one month. Among the constituents, Zee Entertainment Enterprises Ltd gained 7.65%, PVR Ltd added 3.29% and Jagran Prakashan Ltd jumped 3.24%. The Nifty Media index is down 33.00% over last one year compared to the 6.78% surge in benchmark Nifty 50 index. In other indices, Nifty Financial Services index added 2.56% and Nifty FMCG index added 2.51% on the day. In broad markets, the Nifty 50 added 1.33% to close at 11407.15 while the SENSEX added 1.44% to close at 37930.77 today.

Indices opened on a mixed note and turned range bound near flat line in morning trade. After hovering in a narrow range mid-morning trade, indices firmed up in early afternoon trade and hit fresh intraday high in mid-afternoon trade. Barometers spurted in late trade.

The barometer index, the S&P BSE Sensex, rose 278.60 points or 0.75% to 37,393.48. The index hit high of 37,518.94 and low of 37,052.30 in intraday trade.

The Nifty 50 index rose 100.10 points or 0.90% to 11,257.10. The index hit high of 11,281.55 and low of 11,143.35 in intraday trade.

Bajaj Finance jumped 3.64%. The company's net profit rose 57.32% to Rs 1,176.06 on 52.04% increase in total income to Rs 5,308.47 crore in Q4 March 2019 over Q4 March 2018. The result was announced during trading hours today, 16 May 2019.

TCS rose 1.03% after the company announced partnership with Juniper Networks' to enhance product assurance process with AI and Automation. TCS announced that it has been selected by Juniper Networks, an industry leader in automated, scalable and secure networks, to enhance its product assurance using TCS' AI-powered Smart QE platform, a 350-degree holistic assurance solution, to deliver first-time-right quality across its hardware and software security products. The announcement was made during market hours today, 16 May 2019.

Hindalco Industries rose 1.99%. The company's net profit fell 17.86% to Rs 506 crore on 6.57% increase in revenue from operations to Rs 12,455 crore in Q4 March 2019 over Q4 March 2018. The financials include relevant numbers of Utkal Alumina International (100% subsidiary of Hindalco), from its accounts, to present a comprehensive view of the business.

Lupin fell 0.22%. The company announced the completion of the United States Food and Drug Administration (USFDA) inspection carried out at its Aurangabad manufacturing facility. The inspection was carried out from May 6 to May 15, 2019. The inspection at the Aurangabad facility closed with three observations. The company is confident of addressing them satisfactorily. The announcement was made after market hours yesterday, 15 May 2019.

InterGlobe Aviation slumped 8.82% amid media reports of an alleged rift between the promoters of IndiGo. According to media reports, the founders of the budget carrier — Rahul Bhatia and Rakesh Gangwal — locked horns over strategies and ambitions for the airline.

Tata Chemicals rose 8.29%. Tata Global Beverages rose 10.99%. The boards of directors of Tata Global Beverages (TGBL) and Tata Chemicals ('TCL) have approved the de-merger of the consumer products business of TCL into TGBL through a National Company Law Tribunal (NCLT) approved scheme of arrangement (Scheme). Each shareholder of TCL will get 1.14 new equity shares of TGBL for every 1 equity share held in TCL i.e. a shareholder holding 100 shares in TCL will receive 114 shares in TGBL. The proposed transaction will create a focused consumer products company with a combined turnover and EBITDA of Rs. 9,099 crore and Rs. 1,154 crore respectively, for the twelve months period ended March 31, 2019 on a proforma basis.

Ashok Leyland rose 1.1%. The company announced during trading hours today that it bagged an order for 400 units of 'Ashok Leyland Eagle 916' mini buses valuing Euro 10.06 million from Senbus Industries.

On the data front, India's overall exports (merchandise and services combined) in April 2019 is estimated to be $44.06 billion, exhibiting a positive growth of 1.34% over the April 2018. Overall imports in April 2019 is estimated to be $52.83 billion, exhibiting a positive growth of 4.53% over April 2018. Taking merchandise and services together, overall trade deficit for April 2019 is estimated at $8.78 billion as compared to $7.07 billion in April 2018, the Ministry of Commerce & Industry said in a statement yesterday, 15 May 2019.

India's merchandise exports in April 2019 were $26.07 billion, as compared to $25.91 billion in April 2018, exhibiting a positive growth of 0.64%. In Rupee terms, exports were Rs 1,81,021.34 crore in April 2019, as compared to Rs 1,70,052.96 crore in April 2018, registering a positive growth of 6.45%. Merchandise imports in April 2019 were $41.40 billion (Rs 2,87,432.93 crore), which was 4.48% higher in dollar terms and 10.52% higher in Rupee terms over imports of $39.63 billion (Rs 2,60,084.67 crore) in April 2018. The merchandise trade deficit for April 2019 was estimated at $15.33 billion as against the deficit of $13.72 billion in April 2018.

Overseas, European shares reversed early losses while Asian shares ended mixed on Thursday. Trade tensions continued to weigh on investor sentiment after Trump declared a national emergency to protect US computer networks from foreign adversaries. He signed an executive order which effectively bars US companies from using foreign telecoms believed to pose national security risks.

China reported surprisingly weaker growth in retail sales for April on Wednesday. Overall retail sales in April rose 7.2% from a year earlier, data from the National Bureau of Statistics (NBS) showed.

US stocks closed higher on Wednesday following reports that US President Donald Trump plans to postpone auto tariffs by up to six months. US retail sales fell 0.2% in April, the Commerce Department said Wednesday.

Quick Wrap: Nifty Media Index gains 2.26%16-May-2019 (16:00)

Nifty Media index closed up 2.26% at 2115.55 today. The index has slipped 13.00% over last one month. Among the constituents, Zee Entertainment Enterprises Ltd added 7.24%, Hathway Cable & Datacom Ltd fell 5.03% and Den Networks Ltd slipped 4.52%. The Nifty Media index has fallen 36.00% over last one year compared to the 4.80% increase in benchmark Nifty 50 index. In other indices, Nifty Commodities index gained 1.81% and Nifty Energy index increased 1.68% on the day. In broad markets, the Nifty 50 witnessed a rise of 0.90% to close at 11257.1 while the SENSEX recorded a gain of 0.75% to close at 37393.48 today.

Sensex, Nifty register modest losses15-May-2019 (16:45)

Key benchmark indices ended with modest losses as stocks dropped in late trade after hovering in positive terrain for most part of the session. Investors continued to be plagued by doubts surrounding slowing global growth and US-China trade relations.

Indices opened higher and hit fresh intraday high in morning trade supported by recovery in other Asian stock markets. Benchmarks held firm near day's high in mid-morning trade. After briefly slipping into the red in afternoon trade, the indices bounced back in mid-afternoon trade. Sudden selling pressure dragged the market lower in late trade.

The barometer index, the S&P BSE Sensex, fell 203.65 points or 0.55% to 37,114.88. The index hit high of 37,559.67 and low of 37,047.87 in intraday trade.

The Nifty 50 index fell 65.05 points or 0.58% to 11,157. The index hit high of 11,286.80 and low of 11,136.95 in intraday trade.

Nestle India rose 0.97% after net profit rose 9.26% to Rs 463.28 crore on 9.33% rise in total income to Rs 3076.14 crore in Q1 March 2019 over Q1 March 2018. The result was announced after market hours yesterday, 14 May 2019.

PTC India fell 0.07% after net profit declined 16.33% to Rs 53.86 crore on 22.68% rise in total income to Rs 2673.25 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 14 May 2019.

Hindustan Oil Exploration Company rose 2.11% after net profit surged 191.55% to Rs 47.96 crore on 193.17% rise in total income to Rs 75.08 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 14 May 2019.

Meanwhile, the India Meteorological Department (IMD) on Wednesday said that the monsoon onset over Kerala is likely to be slightly delayed. The southwest monsoon onset is likely to set over Kerala on 6 June with a model error of ± 4 days.

The forecast is mostly in line with the one made by private forecaster Skymet, which on Tuesday said the monsoon would hit the State on 4 June 2019.

Overseas, European stocks edged lower on Wednesday as the rebound in global shares struggled to maintain its momentum. Asian shares ended mostly higher Wednesday, following a recent slump amid escalating tensions on the US-China trade front.

Growth in China's industrial output for April increased 5.4% year-on-year from a 4-1/2 year high in March.

US stocks advanced on Tuesday, paring heavy losses sparked by a raging US-China trade war over the past week. US President Donald Trump on Tuesday called the escalating dispute with China a little squabble but said Washington was still considering extending tariffs to another $300 billion worth of Chinese merchandise.

Quick Wrap: Nifty Media Index falls 3.74%15-May-2019 (16:00)

Nifty Media index ended down 3.74% at 2068.7 today. The index has slipped 15.00% over last one month. Among the constituents, Zee Media Corporation Ltd shed 11.99%, Dish TV India Ltd dropped 9.43% and Zee Entertainment Enterprises Ltd slipped 6.92%. The Nifty Media index has fallen 37.00% over last one year compared to the 3.29% increase in benchmark Nifty 50 index. In other indices, Nifty Metal index has dropped 2.10% and Nifty PSU Bank index has dropped 1.79% on the day. In broad markets, the Nifty 50 has slid 0.58% to close at 11157 while the SENSEX has dropped 0.55% to close at 37114.88 today.

Market snaps nine-day losing trend14-May-2019 (16:48)

Domestic stocks ended with modest gains, snapping a nine-day losing streak. Volatility was high with the Sensex maintaining the psychological 37,000 level after falling below that level in intraday trade. Public sector banks advanced. Private sector banks were mixed.

The domestic indices opened lower and briefly bounced into positive terrain in early trade. Recovery was short lived as indices once again dipped into the red in morning trade. Indices turned range bound in mid-morning trade. Volatility was witnessed in early afternoon trade as indices trimmed losses after hitting fresh intraday low. Benchmarks bounced back into positive terrain in afternoon trade and hit fresh intraday high in mid-afternoon trade.

The barometer index, the S&P BSE Sensex, rose 227.71 points or 0.61% to 37,318.53. The index hit a high 37,572.70 and low of 36,956.10 in intraday trade.

The Nifty 50 index rose 73.85 points or 0.66% to 11,222.05. The index hit high of 11,294.75 and low of 11,108.30 in intraday trade.

Drug major Lupin rose 0.61%. The company announced during trading hours today, 14 May 2019, that it has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) for the Post-marketing Adverse Drug Experience (PADE) inspection, indicating successful closure of the inspection. The inspection was conducted at Lupin's global pharmacovigilance group DSRM (Drug Safety & Risk Management) based out of Mumbai between 14 January 2019 and 18 January 2019. The inspection included a comprehensive scrutiny of practices and procedures for reporting of adverse events of Lupin's marketed products worldwide. The inspection closed with four observations.

Telecom major Bharti Airtel surged 5.4%. Media reports suggested that Bharti Airtel has scrapped its low-valued postpaid plans of less than Rs 499 across circles and halved the total number of its offers for this higher-paying user segment to four, to boost its revenue per user, lower costs, and improve profitability. Airtel has reportedly discontinued its Rs 299 and Rs 399 postpaid plans along with higher value plans of Rs 649, Rs 1,199 and Rs 2,999. It now offers just four postpaid plans (Rs 499, Rs 749, Rs 999 and Rs 1,599) that came into effect from 1 May 2019.

United Bank of India rose 4.21%. The board of directors of United Bank of India considered and approved raising equity capital not exceeding Rs 1500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue, Rights Issue or such other capital issues(s). The announcement was made after market hours yesterday, 13 May 2019.

Godrej Industries ended unchanged at Rs 450.85. The company's consolidated net profit surged 108.33% to Rs 297.41 crore on 40.32% rise in total income to Rs 3,444.36 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 13 May 2019.

Engineers India rose 3.03%. The company has signed a contract with Mangol Refinery State Owned LLC for providing its PMC Services for Construction of a Crude Oil Refinery Plant in Mongolia. The announcement was made after market hours yesterday, 13 May 2019.

On the economic front, the annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at 3.07% (provisional) in April 2019 (over April 2018) as compared to 3.18% (provisional) in the previous month and 3.62% during the corresponding month of the previous year, the Ministry of Commerce & Industry said in a release during trading hours today, 14 May 2019.

The all-India general Consumer Price Index (CPI) inflation rose to 2.92% in April 2019, compared with 2.86% in March 2019. The inflation based on CPI was 4.58% in April 2018. The Central Statistics Office (CSO) released the data after market hours yesterday, 13 May 2019.

Overseas, European stocks climbed on Tuesday after a downbeat session in Asia, as investors awaited a resolution to the US-China trade negotiations following the recent escalation in tensions. Asian shares declined Tuesday following a sharp fall in US stocks overnight as the trade war between China and the United States escalated.

China announced on Monday that it will raise tariffs on $60 billion worth of US goods, beginning on 1 June 2019. The goods targeted include a broad range of agricultural products. Last week, US President Donald Trump raised duties on $200 billion in Chinese goods to 25% from 10%.

US Trade Representative's office reportedly said it planned to hold a public hearing next month on the possibility of imposing duties of up to 25% on a further $300 billion worth of imports from China.

In US, stocks closed sharply lower Monday, as investors weighed an escalating tariff fight that could pose risks to the US, Chinese and global economies.

Quick Wrap: Nifty PSU Bank Index gains 2.85%14-May-2019 (16:00)

Nifty PSU Bank index ended up 2.85% at 2953.3 today. The index has slipped 11.00% over last one month. Among the constituents, Union Bank of India rose 4.55%, Punjab National Bank gained 3.95% and Bank of Baroda jumped 3.78%. The Nifty PSU Bank index has soared 3.00% over last one year compared to the 3.84% increase in benchmark Nifty 50 index. In other indices, Nifty Infrastructure index gained 1.98% and Nifty Pharma index added 1.52% on the day. In broad markets, the Nifty 50 added 0.66% to close at 11222.05 while the SENSEX increased 0.61% to close at 37318.53 today.

Sensex, Nifty slide on weak global stocks13-May-2019 (16:43)

Domestic stocks dropped sharply on first trading day of the week on negative stocks. Volatility was high with the Sensex maintaining the psychological 37,000 level after briefly falling below it in intraday trade. Domestic stocks registered losses for ninth straight trading session. Investors are concerned about global economic growth after trade negotiations between the US and China appeared at a deadlock.

The barometer index, the S&P BSE Sensex, lost 372.17 points or 0.99% to 37,090.82. The index hit high of 37,583.57 and low of 36,999.84 in intraday trade.

The Nifty 50 index fell 130.70 points or 1.16% to 11,148.20. The index hit high of 11,300.20 and low of 11,125.60 in intraday trade.

After opening lower, key benchmarks bounced back and hit fresh intraday high in morning trade. Indices came off day's high in mid-morning trade and swung between gains and losses in early afternoon trade. The Sensex was almost flat while the Nifty was trading with small losses in mid-afternoon trade. Indices witnessed steep selling pressure in late trade.

Tata Motors lost 3.09% after global wholesales, including Jaguar Land Rover, dropped 22% to 79,923 units in April 2019 over April 2018. The announcement was made during market hours today, 13 May 2019.

The Tata Motors Group global wholesales in April 2019, including Jaguar Land Rover, were at 79,923 units, lower by 22%, over April 2018. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in April 2019 were at 31 ,726 units, lower by 20%, over April 2018. Global wholesales of all passenger vehicles in April 2019 were at 48197 units, lower by 23%, compared to April 2018.

Global wholesales for Jaguar Land Rover were 35,451 vehicles (JLR number for April 2019 includes CJLR volumes of 3,332 units). Jaguar wholesales for the month were 13,301 vehicles, while Land Rover wholesales for the month were 22,150 vehicles. CJLR is a JV between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR.

ITC lost 2.64%. The company's net profit rose 18.73% to Rs 3481.90 crore on 14.27% increase in total income to Rs 12946.21 crore in Q4 March 2019 over Q4 March 2018. The result was announced during trading hours today, 13 May 2019.

HDFC gained 1.06% after net profit rose 26.8% to Rs 2861.58 crore on 24.28% rise in total income to Rs 11586.58 crore in Q4 March 2019 over Q4 March 2018. The result was announced during market hours today, 13 May 2019.

The board approved issuance of Redeemable Non-Convertible Debentures (secured or unsecured) and/or any other hybrid instruments (not in nature of equity shares) up to Rs 125000 crore on a private placement basis.

Larsen & Toubro (L&T) fell 2.81% after the company announced its Q4 result after market hours on Friday, 10 May 2019. It reported 7.92% rise in consolidated net profit to Rs 3,418.24 crore on 10.86% rise in total income to Rs 45,555.29 crore in Q4 March 2019 over Q4 March 2018.

The order intake for the quarter ended 31 March 2019 at Rs 56,538 crore grew by 14% y-o-y. International order inflow during the quarter at Rs 17,680 crore constituted 31% of the order inflow for the quarter. Consolidated order book of the group stood at Rs 293,427 crore as at 31 March 2019, with international order book constituting 22% of the total order book.

The company continues to focus on profitable execution of its robust order book, positioning well for emerging opportunities and is confident of pursuing its growth plans, with the aim of maximizing shareholder returns (RoE) on a sustainable basis. L&T said.

The board of directors has recommended for the approval of shareholders, a dividend of Rs 18 per equity share.

Hero MotoCorp rose 0.12%. In keeping with its aggressive growth strategy for the scooter segment, Hero MotoCorp today further strengthened its scooter portfolio with the launch of two powerful and stylish new scooters - Maestro Edge 125 and Pleasure+ 110 - for customers in India and across its global markets. The company will commence the retail sales of the scooters over the next few weeks. The announcement was made during market hours today, 13 May 2019.

Eicher Motors dropped 7.69%. The company's consolidated net profit rose 18.05% to Rs 544.84 crore on 0.33% rise in total income to Rs 2718.25 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours on Friday, 10 May 2019.

Avenue Supermarts shed 0.07%. The company's net profit rose 21.42% to Rs 202.89 crore on 31.98% rise in total income to Rs 5,048.03 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours on Friday, 10 May 2019.

Oberoi Realty gained 2.7%. The company's consolidated net profit rose 8.98% to Rs 155.76 crore on 69.17% rise in total income to Rs 598.70 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours on Friday, 10 May 2019.

Oberoi Realty's EBITDA was Rs 233.52 crore for Q4 March 2019 as against Rs 191.22 crore for Q4 March 2018. Total area booked for Q4 March 2019 was 1.45 lakh sq. ft. as against 1.31 lakh sq. ft. booked in Q4 March 2018 and the total value was Rs 319.14 crore for Q4 March 2019 as against Rs 263.32 crore for Q4 March 2018.

Commenting on the results, Vikas Oberoi, Chairman & Managing Director, Oberoi Realty said 2018 saw the formalization of the Indian economy and a complete transformation of the real estate sector. The residential projects continue to receive a promising response from home buyers and diversified verticals have also been performing well.

Among the economic data, India's industrial production (base year 2011-12=100) declined 0.1% in March 2019, while snapping growth for last 21 straight months. The industrial production growth for February 2019 has been retained unchanged at 0.1% as reported provisionally. The data was announced after market hours on Friday, 10 May 2019.

Overseas, shares in Europe and Asia declined on Monday on growing uncertainty over whether the United States and China will be able to end their escalating trade war. Markets in Hong Kong are closed on Monday for a holiday.

Trading in US index futures indicated that the Dow Jones Industrial Average could fall 313 points at the opening bell today, 13 May 2019.

Trade talks between US and Chinese negotiators broke up on Friday without a trade agreement. The US hiked tariffs on $200 billion worth of Chinese goods. China has vowed to retaliate, without giving details.

In US, stocks staged a massive reversal on Friday after President Donald Trump said conversations with China over trade will continue and his relationship with President Xi Jinping remains strong. The president also noted that the trade talks with China were candid and constructive. Trump said the new tariffs on $200 billion worth of Chinese goods may or may not be removed in the future.

Nifty PSU Bank index closed down 5.00% at 2871.45 today. The index has lost 13.00% over last one month. Among the constituents, Union Bank of India dropped 9.76%, Syndicate Bank slipped 8.96% and Canara Bank shed 8.32%. The Nifty PSU Bank index has increased 1.00% over last one year compared to the 3.16% spike in benchmark Nifty 50 index. In other indices, Nifty Pharma index has slid 4.37% and Nifty Media index has slid 3.78% on the day. In broad markets, the Nifty 50 has slid 1.16% to close at 11148.2 while the SENSEX has slid 0.99% to close at 37090.82 today.

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